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Editors’ Picks
AUD/USD gains ground above 0.6520 amid quiet session
AUD/USD kicks off the new week on a positive note around 0.6525. It’s a holiday in Australia for Easter Monday, and the market is likely to be mute. Investors will keep an eye on the US ISM Manufacturing Purchasing Managers Index for fresh impetus, which is expected to improve to 48.4 in March from 47.8 in February.
EUR/USD: King US Dollar set to recover its crown
EUR/USD closed in the red for a third consecutive week, ending March just above 1.0767, the monthly low. The US Dollar started the week with a soft tone but started grinding higher on Tuesday, finally gathering momentum late on Thursday amid hawkish comments from Federal Reserve officials.
Gold: Persistent US Dollar strength fails to discourage bulls
Gold ignored the persistent US Dollar strength this week and climbed above $2,200. As market focus shifts to next week’s key macroeconomic data releases from the US, XAU/USD’s technical outlook suggests that the pair could stage a technical correction before the next leg higher.
